The Central Bank of Liberia used the opening of the West African Institute for Financial and Economic Management's regional course on economic issues in regional integration in Monrovia to reaffirm its support for WAIFEM's human capital and institutional capacity-building work across West Africa. In remarks delivered by Executive Governor Henry F. Saamoi, the bank linked stronger technical capacity to addressing the economic and structural constraints that continue to limit regional integration, intra-African trade and implementation of the African Continental Free Trade Area. Saamoi highlighted policy harmonization gaps, trade barriers, infrastructure deficits and limited production capacity as key obstacles. Citing the International Monetary Fund's 2024 Regional Economic Outlook, he noted that intra-African trade stands at 18%, compared with 60% in Europe and 40% in North America, and called for deeper capital market integration, greater currency convertibility, harmonized financial regulation and integration of cross-border payment systems. The bank also stressed that capacity-building programs should be backed by stronger evaluation and accountability, noting that training outcomes often influence career progression in central banks and public institutions.
Central Bank of Liberia2025-04-08
Central Bank of Liberia reiterates support for WAIFEM capacity building at regional integration course
At the opening of a WAIFEM regional course in Monrovia, the Central Bank of Liberia reaffirmed support for the institute's capacity-building and human capital agenda across West Africa. Executive Governor Henry F. Saamoi linked that agenda to AfCFTA implementation and called for stronger policy coordination, financial integration, currency convertibility and cross-border payment systems to address weak intra-African trade.